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It's any estate worth less than 12 million.
by lozenge 4y ago
It's any estate worth less than 12 million.
- malfist 4y agoNo. The estate tax doesn't start until the inheritance is over $12 million. So they have to inherit a $12m estate before they're taxed, if it's less, no estate tax. And they don't pay taxes on that $12m if they're over the $12m, only the amount that it's over that $12m. If it's worth $12,000,001, they pay taxes on only $1. Sources: https://www.forbes.com/sites/ashleaebeling/2021/11/11/new-higher-estate-and-gift-tax-limits-for-2022-couples-can-pass-on-720000-more-tax-free/?sh=ef89796174f7 https://www.forbes.com/sites/ashleaebeling/2021/11/11/new-hi...